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Adviser Profile

As of Date 04/04/2024
Adviser Type - Large advisory firm
Number of Employees 16 6.67%
of those in investment advisory functions 12 20.00%
Registration SEC, Approved, 3/12/2012
AUM* 917,326,636 14.14%
of that, discretionary 916,147,600 19.28%
Private Fund GAV* 627,967,186 7.21%
Avg Account Size 152,887,773 14.14%
SMA’s No
Private Funds 6
Contact Info 612 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Recent News

Reported AUM

Discretionary
Non-discretionary
921M 789M 658M 526M 395M 263M 132M
2015 2016 2017 2018 2019 2020 2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypePrivate Equity Fund Count6 GAV$627,967,186

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Brochure Summary

Overview

Northstar Company, LLC (“Northstar”) was established in 1993 to provide investment management and advisory services to private investment funds making junior capital investments and equity co-investments in lower middle- market companies. The owners of Northstar are Douglas Mark, Brian Schneider and Christopher Kocourek. Seidler Capital, Inc. (“SCI”), which is controlled by the estate of Peter Seidler, has an interest in Northstar. Northstar provides investment management services to the following private investment funds: (i) Northstar Mezzanine Partners V, L.P. (“NMP V”), (ii) Northstar Mezzanine Partners VI, L.P. (“NMP VI”) (iii) Northstar Mezzanine Partners VII, L.P. (“NMP VII”), (iv) Northstar Mezzanine Partners VIII, L.P. (“NMP VIII”), (v) Northstar Mezzanine Partners SBIC, L.P. (“SBIC LP”) and (vi) ITS/Sprinturf Investment, LLC (“ITS”) (collectively the “Northstar Clients”). SBIC LP operates as a leveraged small business investment company (an “SBIC”) under the Small Business Investment Act of 1958, as amended, and the rules and regulations thereunder and interpretations thereof promulgated by the SBA, as in effect from time to time (the “SBIC Act”). The Client’s General Partners, in their discretion, can invite Investors to participate individually in Portfolio Company investments alongside the Northstar Clients (“Co-Investment”). ITS/Sprinturf Investment, LLC was a private investment Client established to allow co-investment along with NMP VII in one of NMP VII’s portfolio company investments. The Northstar Clients are closed-end private investment funds (in this Brochure, investors may also be referred to as Limited Partners). The Northstar Clients, together with any other investment Clients or vehicles sponsored or managed by Northstar in the future, are referred to in this Brochure as (“Clients”). In connection with providing investment advisory services to each Client, the Client’s General Partner appoints Northstar as investment manager pursuant to an investment management agreement between Northstar and the Client (the “Management Agreement”). The General Partner of NMP V is Northstar Capital, LLC (“NCL”), the General Partner of NMP VI is Northstar VI G.P., LLC (“VI GP”), the General Partner of NMP VII is Northstar VII G.P., LLC (“VII GP”), the General Partner of NMP VIII is Northstar VIII G.P., LLC (“VIII GP”) and the General Partner of SBIC LP is Northstar SBIC GP, LLC (“SBIC GP”). Hereinafter NCL, VI GP, VII GP, VIII GP and SBIC GP each individually, or together as a group, will be referred to as “Collective GP’s”. ITS is a member managed LLC and has not entered into an investment management agreement with Northstar. The Collective GP’s are not required to register as an investment adviser with the SEC because
they rely on Northstar’s registration with the SEC. Further, all persons acting on behalf of the Collective GP’s are subject to the supervision and control of Northstar and are deemed “persons associated with” Northstar as that term is defined in the Advisers Act. Consequently, the Collective GP’s advisory activities are subject to the Advisers Act, and subject to examination by the SEC. Northstar generally offers advice on portfolio investments that fall within each respective Client’s investment strategy and objectives as described in its private placement memorandum, limited partnership agreements (“LPA’s”), limited liability company agreements, subscription agreements or other documents. All such documents, either individually or collectively, will be referred to as Governing Documents. With respect to the Clients, Northstar generally seeks to make investments in junior capital or subordinated debt instruments purchased in conjunction with equity instruments in growth-oriented, niche-dominant, lower middle market companies with stable cash flows and strong historical financial results (“Portfolio Companies”). These investments will normally be made to support buyouts, recapitalizations, acquisitions or internal growth. The investments for certain Clients incorporate sustainable investing principles as described in the Governing Documents for the respective Client. Northstar does not offer any other type of advisory services other than management of investments for the Northstar Clients and providing Co- Investment opportunities. Northstar has full discretionary authority with respect to the investment decisions of its Clients; however, it provides advice in accordance with the investment objectives and guidelines set forth in each Client’s Governing Documents. Northstar does not have discretion with respect to Co-Investments. Client investments are subject to certain diversification and geographic limitations, as well as restrictions on acquiring interests in pooled investment vehicles, and making investments in Portfolio Companies operating in specified industries. The Collective GP’s, as General Partners of the Clients, may enter into side letters with certain Investors that impose, for example, further investment restrictions or reporting requirements. A Collective GP, at its discretion, will decide if a side letter is reasonable and appropriate. The Collective GP’s invest capital in an amount equal to at least 1% of the total capital commitments of the Limited Partners of the Client as mandated in each Limited Partnership Agreement (“LPA”). As of December 31, 2023, Northstar’s regulatory assets under management are $917,326,636 with $916,147,600 managed on a discretionary basis and $1,179,036 managed on a non-discretionary basis.